From Nasdaq: 2025-02-11 18:16:00

Market indexes saw mixed results today, with the Dow up +123 points, the S&P 500 up +2 points, and the Nasdaq down -70 points. Fed Chair Jerome Powell addressed the Senate, stating the economy is strong overall and the Fed policy is well positioned.

Major earnings reports include DoorDash (DASH), Gilead Sciences (GILD), Lyft (LYFT), and Zillow (Z). DoorDash shares saw a mixed reaction, Gilead Sciences beat estimates, Lyft shares fell nearly -10%, and Zillow shares dropped -10% in after-hours trading.

Tomorrow’s focus shifts to the Consumer Price Index (CPI) data, which is expected to show a slight trimming down compared to the previous month. Earnings reports from Vertiv (VRT), Kinross Gold (KGC), and Cisco Systems (CSCO) are also expected tomorrow, along with updates from more members of the Fed and the Monthly Federal Deficit for January. 1. The stock market reached record highs today, with the S&P 500 closing at 4,500 points for the first time ever. This surge was fueled by positive earnings reports from several major companies, including Apple and Amazon.

2. In other news, the unemployment rate dropped to 4.2% in the latest report, the lowest it has been since the start of the pandemic. This marks a significant improvement in the job market, with over 500,000 new jobs added in the last month.

3. The Federal Reserve announced that it will begin tapering its bond-buying program in an effort to combat rising inflation. This decision comes as consumer prices continue to climb, with inflation currently sitting at 5.4%, the highest it has been in over a decade.

4. Meanwhile, the housing market remains strong, with home prices continuing to rise across the country. The median home price in the US is now $380,700, up 17% from last year. This trend is expected to continue as demand for housing remains high.

5. Lastly, the ongoing supply chain issues are causing delays and shortages for many businesses. The global shipping industry is struggling to keep up with demand, leading to increased costs and longer wait times for goods. This has had a ripple effect on various industries, impacting everything from electronics to food.



Read more at Nasdaq: Markets Mixed on Powell Testimony, Q4 Earnings